Thoughts From the Road

To Plan Ahead, You Need to Look Back

Many of us are busy putting the final touches on our budgets and goals for the new
year. However, are you looking back over the results of this year and really comparing
what you actually accomplished to what your target was? This process is not only important
in doing the financial budget, but should also be undertaken in planning all the goals you
set for the new year.

You planned to repave part of your facility. Did you get it done? Was it on budget? Do
you need to do more paving in 2000? Did you update your signage like you planned? Did you
design that new Yellow Pages ad? Were your goals for occupancy achieved each month? Did
the ratio of phone calls to appointments to rentals increase like you had planned? Did you
send your managers to that training course that you promised them? Did you get the maximum
benefit from your membership in your state or national industry organization?

Unless you write out specific goals for the new year, you will be just left with the
budget as the measuring tool of your success. Take the time to discuss your objectives for
the new year with your entire management team. Get them involved and keep them involved in
creating the budget and the other benchmarks that you set for the year ahead. You will be
surprised all that will be accomplished when everyone knows the targets to shoot for in
2000.

The Final Countdown to Y2K

OK, I know you are sick of hearing about the Y2K thing. It still remains a mystery to
me how some individuals and businesses have just ignored this issue completely in their
self-storage operations. I just wanted to wish you luck at the end of December. There is
still time to think through what could happen and to develop some contingency plans, just
in case. Drop me a note, fax or e-mail with your Y2K stories sometime in January.

Your Customers Are Changing? Do You Know It?

As I travel across the country, I have been struck by comments from owners and managers
about some of the differences that they are seeing in their customer base. A USA Today
story from Beloit College in Wisconsin brought home this very point to me. The story
commented on the frame of reference that this year's class of college freshman have with
which to view the world around them.

Members of the class of 2003 have never dialed a phone. They have only known one Pope.
Space travel has always included women. A woman has always been on the Supreme Court.
"Moonwalk" to them is something that Michael Jackson does, not Neil Armstrong.
They have no idea who "Ma Bell" is. They don't understand why Solidarity is
spelled with a capital "S," and they have never heard anyone say "Book 'em,
Dano," "Good-night, John-Boy" or "Kiss my grits" on prime-time
TV.

Are you paying attention to how your customers are changing? Are you adjusting your
operations to meet their needs? If not, as you are doing your planning for next year, make
it a priority to determine how these shifts can impact your business and how you can take
advantage of them in 2000.

Still Time to Participate in Traffic Study

I want to thank all of the individuals and companies that have already responded to my
request for average daily traffic counts from their facilities. I am tabulating the
results and finalizing the report; however, there is still time if you want to participate
in this industry-wide study. Within the next two weeks I would need from you, on an
anonymous basis should you so desire, the following information:

Total rentable square footage in your facility

Number of total units

Percentage of units rented

How many customer vehicles come into your facility on a daily or weekly basis.

Take the Time to Talk

Back in August, my mom, Nora, suffered a stroke. As I write this column, she is making
good progress. However, in those first couple of critical days, I was forced to
contemplate the possibility of her passing. In those quiet and private moments, I was so
grateful that I had taken time, over the years, to express my love to her. My closing Thoughts
From the Road for 1999 is to encourage all of us to grasp the fact that waiting until
tomorrow to show others we care about them could be too late. Take the time, today, to
reach out to your loved ones because, sometimes, we are not given a second chance.

Thanks to everyone who has written or called me about this column. I have enjoyed
sharing these thoughts with you. Enjoy your New Year's celebration and I'll see you at the
Las Vegas Expo in February.

Jim Chiswell is the president of Chiswell & Associates of Williamsville, N.Y.
Since 1990, his firm has provided feasibility studies, acquisition due diligence, and
customized manager training for the self-storage industry. In addition to contributing
regularly to Inside Self-Storage, Mr. Chiswell is a frequent speaker at Inside
Self-Storage Expos. He can be reached via e-mail at Jchiswell@adelphia.net or by calling his office
at (716) 634-2428.